PayPal stops money transfer services between russian users

Banks

YEREVAN, July 31. /ARKA/. PayPal  worldwide online payments system said starting from August 1 it stops offering payment and money transfer services between Russian users and will focus on cross-border trade instead as part of a changed business model in Russia, banki.ru reported

According to  PayPal, in 2019 domestic operations only accounted for 4 percent of total profits from the Russian market.

PayPal became available to Russian users in 2006 for cross-border trade and since 2013 for domestic money transfers after  Russian law regarding domestic payment systems was revised.

PayPal will maintain its Moscow offices to continue supporting its Russian users with cross-border trade payments, Russian news agency Tass said. -0-

spot_img

POPULAR

Economy

Armenia’s gross reserves rose to $5.5 billion in March, providing 4.1 months of import coverage – WB

Gross reserves in Armenia increased to $5.5 billion at the end of March, equivalent to 4.1 months of import coverage, according to the World Bank's "Armenia Monthly Economic Update – March 2026."
Economy

Some 68% of March inflation in Armenia contributed by food and non-alcoholic beverages-WB

In March, Armenia's inflation rose to 4.5 percent (yoy) from 4.3 percent (yoy) in February, according to World Bank's Armenia Monthly Economic Update – April 2026.
Announces

VTB (Armenia) Expands Payment Options for Russian Tourists

Ahead of the tourist season, VTB (Armenia) is strengthening its acquiring infrastructure, expanding its network and introducing digital payment solutions.
Banks

In February, Armenia’s net inflow of non-commercial money transfers grew moderately after a jump in January – WB

In February, net non-commercial money transfers to Armenia grew by 5.2 percent (yoy), following a 44 percent (yoy) surge in January, according to World Bank's Armenia Monthly Economic Update – April 2026 .
Economy

Corporate tax collection in Armenia has increased to 265.8 billion drams; Pashinyan announced a 5.4-fold increase since 2017

As of April 20, 2026, corporate income tax collection in Armenia amounted to 265.8 billion drams, announced RA Prime Minister Nikol Pashinyan.

LATEST NEWS

spot_imgspot_imgspot_img
Previous article
Unibank offers new functions in UniMobile application
Unibank offers new functions in UniMobile application
Next article
осаго
Car insurance compensation claims double in Yerevan